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in excel please help At the beginning of 2024 , Taylor Corporation had the following stockholders' equity balances in its general ledger: The paid-in capital
in excel please help
At the beginning of 2024 , Taylor Corporation had the following stockholders' equity balances in its general ledger: The paid-in capital from stock options relates to options granted on 1/1/20 to the CEO as incentive compensation. As of 1/1/24, the remaining expected benefit period is six years; expense has been and will be recorded evenly over the benefit period. The following events were among the many occurring in 2024: - January 2: Purchased 4,000 shares of its common stock for $18 per share. Brown uses the cost method of accounting for treasury stock transactions. - February 1: Declared and paid a cash dividend of $3 per share on the outstanding common stock. (Hint: Don't forget to consider Treasury Stock existing on 1/1/24 when computing outstanding shares.) April 1: Issued 18,000 shares of $40 par, noncumulative, convertible 6% preferred stock for $60 per share, where one share of preferred stock is convertible into two shares of common stock. duly 1: 2,000 shares of treasury stock that had been purchased in a prior year for $11 per share were re-issued for $8 per share. . August 1: Holders of 4,000 shares of the preferred stock converted their shares into common stock when the market value of the common stock was $21 per share. Brown uses the book value method of accounting for conversions. c. October 1: Declared and distributed a 1\% stock dividend on common stock outstanding when the market price of the stock was $16 per share. November 1: Corrected an error that was made several years ago, when land that had been purchased for $40,000 was inadvertently expensed. . December 1: Declared and distributed a property dividend of land to preferred shareholders. The land had a fair value of $45,000 and a carrying value of $44,000. . December 31: Recorded 2024 compensation expense related to the stock options. (See Requirements and Submission information on next page) Required All journal entries for the items (a. through i.) above. No explanations. Ignore tax effects Step by Step Solution
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